Summary: Trinity River Authority, Texas; Water/Sewer

S&P Global Ratings assigned its 'AA+' long-term rating to Trinity River Authority (TRA), Texas' series 2017 revenue refunding revenue bonds, issued for the Denton Creek System. At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the TRA's existing revenue bonds, issued for the Denton Creek System. The outlook is stable. The ratings reflect our opinion of the general creditworthiness of the leading utility system that participated in TRA's Denton Creek wastewater collection and treatment system. Contracts between the participant retail systems--primarily municipally owned water and sewer systems mostly in Tarrant County--and the authority require unconditional payments to the authority. Fort Worth remains the largest user, as a percentage of flows, as well

...S&P Global Ratings assigned its '##+' long-term rating to Trinity River Authority (TRA), Texas' series 2017 revenue refunding revenue bonds, issued for the Denton Creek System. At the same time, S&P Global Ratings affirmed its '##+' long-term rating and underlying rating (SPUR) on the TRA's existing revenue bonds, issued for the Denton Creek System. The outlook is stable. The ratings reflect our opinion of the general creditworthiness of the leading utility system that participated in TRA's Denton Creek wastewater collection and treatment system. Contracts between the participant retail systems--primarily municipally owned water and sewer systems mostly in Tarrant County--and the authority require unconditional payments to the authority. Fort Worth remains the largest user, as a percentage of flows, as well as the strongest rated participant. Payments, which are considered operating expenses of the participants, are based on the participants' sewer flows as a percent of total flows to the...

Summary